Money Management Executive Latest News

Fidelity Investments' brokerage arm added $52.1 billion of assets in the fourth quarter, according to its earnings report Wednesday.

Major Canadian banks have joined the chorus of American shareholder advocates in asking regulators to increase regulations for hedge funds, as alternative investments become more popular with individual investors, The Globe and Mail reports.

Independent directors who are required to head mutual fund boards by 2006 must have enough authority to perform their duties by pushing back against management, according to a newly released report commissioned by an industry trade group affiliated with the Investment Company Institute.

Some institutional pension plan sponsors like Coca-Cola have walked away from Fidelity Investments after the mutual fund giant implemented stringent short-term trading penalties aimed at deterring market timers, The Boston Globe reports. Vanguard has also blocked access to Fidelity funds offered in some of its retirement plans because of the redemption fees.

Massachusetts Secretary of the Commonwealth William Galvin has subpoenaed Morgan Stanley and other brokerage firms to find out whether they disclosed to investors payments they received from insurance firms to sell their variable annuities, the Associated Press reports.

Legg Mason Capital Management (LMCM), a subsidiary of Legg Mason Inc., announced Wednesday that Jay Leopold has been promoted to senior vice president, portfolio manager of LMCM's All Cap product.

Only a few years ago exchange-traded funds were considered obscure investments, but today, serious investors are reportedly building entire portfolios from the fast-growing investment category through brokerage accounts, Dow Jones News reports.

Only a few years ago exchange-traded funds were considered obscure investments, but today, serious investors are reportedly building entire portfolios from the fast-growing investment category through brokerage accounts, Dow Jones News reports.

Managers Investment Group finalized plans this week to acquire $3 billion of customer assets from Freemont Investment Advisors.

Disgruntled mutual fund investors filed lawsuits against more than 40 of the largest U.S. mutual fund providers for failing to collect and distribute billions of dollars by neglecting to file claim for money from settlements of former shareholder lawsuits, The New York Times reports.